Page 8 - Aathira Varier

Plan to diversify in India, abroad: GIC Re CMD Ramaswamy Narayanan

We plan to finish at around Rs 42,000-43,000 crore for FY25, up 15-16 per cent from last year at Rs 37,000 crore, driven by the health segment to a great extent, said GIC CMD Narayanan

Banks will lose out if they don't partner fintechs: Axis Bank CEO

He highlighted that as customers transact more digitally, the banks' operating costs will come down

Credit cards issuance in country increases by 16% to 104.6 mn in July

Credit card spending in July 2024 increased by 19 per cent Y-o-Y to Rs 1.72 trn in July

RBI cautions against fraud, warns against sharing OTP and KYC details

The RBI also detailed various modus operandi used by fraudsters

Bank-fintech tie up will boost innovation, risk management: RBL CEO

The experience of banks and non-banking financial companies (NBFCs) in risk underwriting and risk assessment will help in improving customer experience

Market correction may drive deposit growth for banks: SBI MD Tewari

Tewari said that the deposit and credit gap is expected to correct next year as per the SBI's research

Financial firms in last-minute rush to comply with Trai mandate on URLs

But most banks play down impact, say they do not send promotional links

Jio Financial ups stake in Jio Payments Bank to 82.17% for Rs 68 cr

The company subscribed to 6.8 crore equity shares of Jio Payments Bank for its business purposes

Medi Assist Insurance TPA to acquire Paramount Health for Rs 312 crore

Paramount TPA works with 30 insurers and more than 3,000 group customers and retail policyholders

87% of Indians believe increased financial uncertainty in 5 years: Report

Currently, family expenses, with an uncertainty score of 78, are the biggest concern among Indians, followed by health and life-related worries

Insurers have festivities covered as India prepares for celebrations

Step up coverage and costs for organisers and participants as festival season begins

Pvt insurers ceded ground in rural areas in FY24; Tier-II,-III saw growth

LIC share of rural policies more than doubled; ULIPs witnessed increased demand in urban areas

Irdai forms task force to tackle challenges, boost growth of surety bonds

A surety bond is a risk transfer mechanism whereby an insurance company provides a guarantee to the beneficiary that the principal or contractor will meet their contractual obligations

As India prepares for festivals, insurers have celebrations covered

State support for Dahi Handi to Durga Puja prompts organisers to strengthen assets and participants

Insurance must be bought for right reason: HDFC Life CEO Vibha Padalkar

We don't believe in fire sale, says Vibha Padalkar

Outward remittances under RBI's LRS drop 24% to $6.9 billion in Q1 FY25

In June 2024, overall remittances fell around 44 per cent Y-o-Y to $2.18 billion amid a decline in remittances across categories

Piramal Enterprises shares gain over 3% on stake increase by promoter group

The company said that the acquisition of shares aligns with the promoters' belief in its growth trajectory, further reflecting their trust in the company's business fundamentals

Bank union urges more staff, security amid Ladki Bahin Scheme rollout

Additionally, some beneficiaries with defaulted accounts face restrictions that prevent them from accessing benefits, resulting in unrest and even violence at branches

Gold loan demand stays strong despite cash disbursement curbs: CRISIL

According to CRISIL, growth for gold-loan NBFCs has been supported by favourable movement in gold prices

Mahindra Finance names Bijoy Thaplial CBO, Mod Narayan Singh as CCO

Thaplial will lead the vehicle leasing and subscription business, Quiklyz, while strengthening execution strategy across all payment products